Landmark Bank will complete its merger with Simmons First National Corp. on Tuesday, taking the Simmons name and transferring to its banking system.
Landmark has 12 locations in Columbia and 21 locations in Missouri. With locations in Missouri, Oklahoma and Texas and more than $3 billion in assets, it was Simmons’ largest individual bank acquisition.
Simmons purchased Columbia-based Landrum Co., the parent company of Landmark Bank, in late July for an estimated $434 million in Simmons stock.
Currently, a banner bearing the Landmark Bank logo covers the new Simmons sign on the exterior of the familiar Columbia banks, ready for the switchTuesday.
A representative of Simmons Bank said Friday that the corporation is working to ease the transition for customers.
“Landmark Bank accounts will remain unchanged until Feb. 18, at which time they will convert to the Simmons Bank account type that they most closely match,” Caroline Makris, Simmons’ public relations manager, said in an email.
“While there are some differences in our products, Landmark Bank and Simmons Bank have worked hard to ensure that we continue to meet all of the banking needs of our customers,” she said.
In the lobby of the downtown Landmark Bank, a sign told visitors that their accounts will transition to Simmons accounts Tuesday. The sign also promised that the merger will lead to more services for customers, increased lending power and affiliation with around 250 Simmons locations once the conversion is complete.
“We’re excited to offer wealth management services through our affiliates, as well as enhanced treasury management services and a renowned low-rate credit card,” Makris said in the email.
According to a Simmons’ statement about the merger on its website, Landmark customers should not experience any interruptions with their banking services.
Some services, however, will be unavailable during the “conversion weekend,” according to the website. Since Friday, online banking and the mobile banking app, ATMs, drive-thru tellers and Landmark’s bill pay service have been unavailable. These services will resume under Simmons Bank on Tuesday.
While most account numbers will remain the same, if customers have been given a new account number, they should have already received it by mail on or before Wednesday, according to the website.
Simmons and Landmark employees will be busy over the weekend overseeing the conversion, Makris said.
“Teams of Simmons Bank and Landmark Bank associates are coming together this weekend to convert Landmark’s systems to Simmons,” she said. “This weekend is the culmination of countless months of planning and preparation.”
Landmark’s president and CEO, Kevin Gibbens, will become Simmons Bank’s Missouri Division president once the conversion happens.
“I am very optimistic about the future of this combined financial services organization,” he said in a prepared statement.
In 2008, The Landrum Co. combined three banks — First National Bank & Trust Company in Columbia, First National Bank in southern Missouri and Landmark Bank in Oklahoma and Texas — into a single organization. The company then became Landmark Bank.
Simmons Bank is based in Pine Bluff, Arkansas, and has around $17.8 billion in total assets, according to its website.